I have recently set up practise in Accounts. I have a new client who has approcahed me to do his personal tax returns (3 years of late ones). He has in the past, 2012 I believe, been the subject of a CCJ in connection with a a car he took on finance and got into difficulty with payments. This debt has risen in the past years to over £27k from an original £10k. He also has debt owed for unpaid social fund loans of £1500 dating back to 2011. He now wants to create a limited company to protect a van that he owns i.e. transfer the van into the companies name. He has only owned the van in the last 6 months. Would doing this protect the van from ever being ceized to pay his persoanl debts? He has other reasons for going limited in that his income is going to be much higher in the future and he is looking at being VAT registered also as he needs to purchase large items of plant also. Any advise would be appreciated. Thank you in advance.
31st Oct 2018
Personal debts and CCJ's
Personal debts and CCJ's - setting up limited company
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